MUMBAI: Pune-based realty developer Kolte-Patil Developers has forayed into Mumbai property market with a redevelopment project in western suburb of Khar. The company will be redeveloping a housing society spread over 1,594 sq meter in Khar (west), a release said.

The redevelopment project of the housing society Link Palace Premises Co-operative Society Ltd will provide total developable area of 1 lakh sq ft. Average property prices in Khar (west), one of the prime western suburbs of Mumbai, are around 25,000 per sq ft and above.

"With a strong vision to expand in Mumbai, we at KPDL have strategically commenced operations with this redevelopment project. We plan to select projects based on the evident sale velocity and will continue along the redevelopment growth trajectory with similar and larger scale projects over the next year," said Sujay Kalele, Group CEO, Kolte-Patil Developers.

With an eye on the redevelopment sector, Kolte-Patil Developers has also identified areas such as Dadar-Chembur belt, Worli, Mulund and Khar-Bandra-Santacruz as possible locations for their future redevelopment plans, the release said.

On Thursday, shares of Kolte-Patil Developers closed at Rs 60 on the Bombay Stock Exchange, down 3.1% over Wednesday's close.

PUNE: Pune has been the fastest growing city for over a decade now, second only to the metros. It has been able to sustain this status mostly because of the well-established manufacturing sector and the thriving IT segment that has made the city its home. There is no dearth of local workers with professional qualifications as the city has numerous colleges offering courses in varied disciplines. Pune is also popular as an ideal city to reside in, not only because of the good schools and colleges

MUMBAI: Private equity firms are eager to invest approximately $2 billion (Rs 11,854 crore) in the real estate market despite a drop in private equity investments in the first half of 2013, according to a new report.

MUMBAI: The BMC has made it mandatory for every developer to have a horticulturist on its panel so that plans are scrutinized to avoid unnecessary tree felling and thus help maintain the city’s green cover. The civic body’s guidelines also state that the horticulturists should ensure that trees that are transplanted survive.

MUMBAI: If you aspire to live in a premium locality of Mumbai and can spend freely, Worli in south Mumbai and Prabhadevi-Dadar west in central Mumbai, are a few areas you can opt for. These areas are located close by and are witnessing a significant demand and supply for 1, 2 and 3-BHK units.

PUNE: The Kalyani Nagar-Koregaon Park belt is one of the prime centres for real estate development in Pune. Although the amenities differ from project to project, a number of properties are coming up with facilities including the following:

MUMBAI: The RBI’s decision to keep the key rates unchanged is letting the entire industry, in general, and housing industry, in particular, down considering the slowdown in the economy and the low investor sentiment in the real estate market. The repo rate or the rate at which RBI lends to the system, has been retained at 7.25 per cent and the cash reserve ratio, the amount of deposits banks park with RBI, has been kept unchanged at 4 per cent. Industry experts and developers expressed disappoin

MUMBAI: The Reserve Bank of India (RBI) came out with its policy statement on Tuesday. The RBI left policy rates on hold. Dr Raghuram Rajan, Chief Economic Adviser (CEA), Ministry of Finance said that RBI policy saw the main immediate macroeconomic task as that of stabilizing the rupee, and believes that once the rupee is stabilized, the policy makers will have room for more growth friendly measures.